Despite public backlash, repercussions have not been as bad as some may think. Reaching almost $84 a share, Nike stock is up and so are sales. That might not continue, however, if major partners like universities and entire states boycott the brand.

"We need to look at all contracts that Florida has with Nike, and where we can contractually - because it has to be done correctly by the rule of law - we should pull ourselves away from those contracts," said Hill.

We did reach out to the University of West Florida for their opinion on the issue. They declined to comment.